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        Importance of Small Business Tax Planning

        WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT? Simple! Reduce the Read More...

        Posted on July 12, 2016
        Common Mistakes Small Business Owners Should Avoid

        Running a small business isn’t easy. For many owners, you’re the chief, Read More...

        Posted on June 27, 2016
        Summertime Tax Tips

        Summer is a great time to start tax planning even though it’s Read More...

        Posted on June 15, 2016
        The Small Business Healthcare Tax Credit: Find Out if You’re Eligible

        If you are a small employer, you may not know about the small Read More...

        Posted on May 25, 2016
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Granite PayrollGranite Payroll
  • Contact
  • About Us
  • Services
    • Payroll Services
    • Employee Self Service
    • Tax Services
    • 401k Administration
    • Time and Attendance
    • HR411 Complete
    • Workers’ Compensation
  • Resources
  • Calendar
  • Blog +
    • Latest News

        Importance of Small Business Tax Planning

        WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT? Simple! Reduce the Read More...

        Posted on July 12, 2016
        Common Mistakes Small Business Owners Should Avoid

        Running a small business isn’t easy. For many owners, you’re the chief, Read More...

        Posted on June 27, 2016
        Summertime Tax Tips

        Summer is a great time to start tax planning even though it’s Read More...

        Posted on June 15, 2016
        The Small Business Healthcare Tax Credit: Find Out if You’re Eligible

        If you are a small employer, you may not know about the small Read More...

        Posted on May 25, 2016
12 Jul

Importance of Small Business Tax Planning

chess-433071_960_720WHY IS TAX PLANNING FOR SMALL BUSINESSES SO IMPORTANT?

Simple!

  • Reduce the amount of your taxable income
  • Try to lower your tax rate
  • Try to utilize any tax credits/deductions that may be available
  • MAKE SMART YEAR-END DECISIONS

While it may seem like you just finished dealing with your business taxes, as a small business owner now is a great time to be working on tax planning. The next few months are a crucial part of the year to get your financial records up to date, see where your profits/losses stand, and make smart decisions to do whatever is possible to minimize your tax liabilities and make smart business choices.

Too frequently, business owners do not take advantage of their accountants for tax planning purposes. By not doing so, they are missing out on tax-saving strategies that need to be implemented on or before December 31.

Besides all the tax-saving advantages that may be available to you, you also get a head start on your taxes. How? In order to have a good tax plan in place, your books need to be reviewed and therefore need to be in order. Therefore, some work that would typically get done during tax preparation (such as clean up) can be performed.  In many cases, you may even receive a list of items that will be needed come the beginning of the year, so you have more time to gather the information instead of scrambling around last minute.

There are way too many benefits that come out of tax planning for it to be ignored. So simply don’t!

Granite Online is a powerful web-based payroll solution designed to streamline payroll operations while enhancing flexibility, security, and control. This dynamic product enables you to maintain control of your payroll data while utilizing our payroll expertise. With 24/7 convenience, Granite Online allows instantaneous e-transfers, printing of live checks and payroll reports, and tracking of human resource data. This easy-to-use payroll product lets you know what’s happening in real-time, so you can minimize costly productivity issues. Whether your company is large or small, local or nationwide, our payroll specialists are at your service.

Recent Posts

  • Importance of Small Business Tax Planning
  • Common Mistakes Small Business Owners Should Avoid
  • Summertime Tax Tips
  • The Small Business Healthcare Tax Credit: Find Out if You’re Eligible
  • Sales Tax – The Necessary Evil in the Daily Life of Business Owners

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Posts

  • Importance of Small Business Tax Planning
  • Common Mistakes Small Business Owners Should Avoid
  • Summertime Tax Tips
  • The Small Business Healthcare Tax Credit: Find Out if You’re Eligible
  • Sales Tax – The Necessary Evil in the Daily Life of Business Owners

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